Llegislative Report

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University of South Florida *

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4414

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Political Science

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Nov 24, 2024

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docx

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Legislative analysis Legislative policy analyses Romar Wallen University of South Florida U17738336 Prof. J. Gathegi 12/4/2023 Abstract What Is Legislative Risk? Legislative risk is the potential that regulations or legislation by the government could significantly alter the business prospects of one or more companies. These changes can adversely affect investment holdings in that company. Legislative risk may occur as a direct result of government action or by altering the demand patterns of the company's customers. Investors rarely complain about bailouts and preferential treatment to specific industries, perhaps because they all harbor a secret hope of profiting from them. However, when it comes to regulations and tax, they complain. What subsidies and tariffs can give to an industry in the form of competitive advantages, regulation and tax can take away from many more. With a single law, subsidy or switch of the printing press, they can send shock-waves around the world and destroy companies and whole industries. For this reason, many investors consider legislative risk as a huge factor when evaluating stocks. A significant investment can turn out to be not that great after consideration of the government it operates under. ( For related reading, see: The Government And Risk: A Love-Hate Relationship .) Legislative Risk Explained

Legislative analysis Legislative risk refers to the tentative relationship between governments and business. Specifically, it's the risk that government actions will constrain a corporation or industry, thereby adversely affecting an investor's holdings in that company or industry. The actual risk can appear in several ways including an antitrust suit, new regulations or standards, specific taxes, subsidies and so on. The legislative risk varies in degree according to industry, but every industry has some exposure. In theory, the government acts as a buffer zone to keep the interests of businesses and the public from grinding on one another. It is the role of the government to step in when industry is endangering the public and seems unwilling to regulate itself.

Legislative analysis The cyber security enhancement act appears to be a culmination of cyber security plans infused to create a policy or legislative act, determining the usage of networks, electronic sources and privacy of information. The legislative branch of government is responsible for making laws within a country. Legislatures are made up of people called legislators who, in democracies, are elected by the country’s population. Under political systems employing the separation of powers model, the legislative branch of government has the authority to pass legislation and regulate government taxation and spending, as well as other powers such as approving executive or judicial appointments. In the United States, the legislative branch of government is called Congress, consisting of the House of Representatives and the Senate, both of which are elected and possess almost equal legislative powers. Laws passed through both houses are known as Acts of Congress, which are subsequently enforced and implemented by the executive branch of government, and interpreted and applied by the judiciary. The cyber security legislation has 5 titles: Public-Private Collaboration on Cybersecurity: Cybersecurity Research and Development: Education and workforce development: Cyber security awareness and preparedness: Advancement of cyber security preparedness and awareness: Cybersecurity Enhancement Act of 2014 - Title I: Public-Private Collaboration on Cybersecurity - (Sec. 101) Amends the National Institute of Standards and Technology Act to permit the Secretary of Commerce, acting through the Director of the National Institute of Standards and Technology (NIST), to facilitate and support the development of a voluntary, consensus- based, industry-led set of standards and procedures to cost-effectively reduce cyber risks to critical infrastructure.

Legislative analysis Requires the Director, in carrying out such activities, to: (1) coordinate regularly with, and incorporate the industry expertise of, relevant private sector personnel and entities, critical infrastructure owners and operators, sector coordinating councils, Information Sharing and Analysis Centers, and other relevant industry organizations; (2) consult with the heads of agencies with national security responsibilities, sector-specific agencies, state and local governments, governments of other nations, and international organizations; (3) identify a prioritized, flexible, repeatable, performance- based, and cost-effective approach, including information security measures and controls, that may be voluntarily adopted by owners and operators of critical infrastructure to help identify, assess, and manage cyber risks; and (4) include methodologies to mitigate imp acts on business confidentiality, protect individual privacy and civil liberties, incorporate voluntary consensus standards and industry best pr actices, align with international standards, and prevent duplication of regulatory processes. (1) FEDERAL CYBERSECURITY RESEARCH AND DEVELOPMENT STRATEGIC PLAN.—The heads of the applicable agencies and departments, working through the National Science and Technology Council and the Networking and Information Technology Research and Development Program, shall develop and update every 4 years a Federal cybersecurity research and development strategic plan (referred to in this subsection as the ‘‘strategic plan’’) based on an assessment of cybersecurity risk to guide the overall direction of Federal cybersecurity and information assurance research and development for information technology and networking systems. The heads of the applicable agencies and departments shall build upon existing programs and plans to develop the strategic plan to meet objectives in cybersecurity, such as— (A) how to design and build complex software-intensive systems that are secure and reliable when first deployed;

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